Solar Hybrid Inverter Market Size Analysis and Top Companies
The global solar hybrid inverter market size is estimated to hit around USD 17.82 billion by 2033, increasing from USD 7.39 billion in 2023 with a CAGR of 9.2% from 2023 to 2033. The top companies operating in the solar hybrid inverter are Schneider Electric SE, Huawei Technologies Co., Ltd., Sungrow Power Supply Co., Ltd., Delta Electronics, Inc., SMA Solar Technology AG, GoodWe Power Supply Technology Co., Ltd., Growatt New Energy Technology Co., Ltd., Fronius International GmbH, SolarEdge Technologies Inc., KACO new energy GmbH, ABB Ltd., Emerson Electric Co., Ginlong Technologies Co., Ltd., OutBack Power Technologies, Inc., Luminous Power Technologies Pvt. Ltd., and Others.
Market Report Coverage
| Report Coverage |
Details |
| Growth Rate from 2024 to 2033 |
CAGR of 9.2% |
| Market Size in 2023 |
USD 7.39 Billion |
| Market Size in 2024 |
USD 8.07 Billion |
| Market Size by 2033 |
USD 17.82 Billion |
| Largest Market |
North America |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
By Product and By End User |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Solar Hybrid Inverter Key Players
- Schneider Electric SE
- Huawei Technologies Co., Ltd.
- Sungrow Power Supply Co., Ltd.
- Delta Electronics, Inc.
- SMA Solar Technology AG
- GoodWe Power Supply Technology Co., Ltd.
- Growatt New Energy Technology Co., Ltd.
- Fronius International GmbH
- SolarEdge Technologies Inc.
- KACO new energy GmbH
- ABB Ltd.
- Emerson Electric Co.
- Ginlong Technologies Co., Ltd.
- OutBack Power Technologies, Inc.
- Luminous Power Technologies Pvt. Ltd.
Recent Developments
- In 2023, Ningbo Deye Inverter Technology Co., Ltd. specializes in manufacturing intelligent hybrid inverters, designed to connect seamlessly with battery storage systems and smart grids. These advanced inverters contribute to enhanced energy efficiency and flexibility in power management, catering to the evolving needs of modern energy solutions.
- In 2021, Tesla (TSLA) introduced its solar power inverter to complement its home solar lineup, alongside the Powerwall. The Tesla Solar Inverter completes the home solar system by converting solar-generated DC power into AC power for household use. Leveraging Tesla's expertise in power electronics, the inverter boasts robust safety features and a straightforward installation process, ensuring compatibility with both Solar Roof and conventional solar panels.
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